Logo of Saudi Real Estate Co. (Al Akaria)
Saudi Real Estate Co. (Al Akaria) signed today, Oct. 25, a tripartite memorandum of understanding (MoU) with the Royal Commission for AlUla and AlUla Development Co., to develop the Sidrat AlUla project in AlUla Governorate.
In a statement to Tadawul, the company highlighted that the 260,200-square-meter (sqm) project will feature 804 residential units (564 apartments as well as 240 villas).
The masterplan will offer other real estate options, including commercial and retail spaces with a total area of 25,000 sqm, complemented with many services and green areas, it further stated.
Al Akaria added that the MoU is valid for four months, noting that a marketing license has been already obtained from the off-plan sales committee Wafi.
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